Market analysis: declining momentum under the 100-hour SMA-support at $ 2.280, $ 2.260 and $ 2.2320

Market analysis: declining momentum under the 100-hour SMA-support at $ 2.280, $ 2.260 and $ 2.2320
Run tiling in the trade: Analysis of the level of support
The current trade takes place under the 100-hour simple moving average (SMA), which indicates a declining momentum. The 100-hour SMA plays an important role in technical analysis because it serves as an important indicator of the short-term trend. If the prices are below this average, this can be a signal for a downward trend.
In this situation, the important level of support are set at $ 2.280, $ 2.260 and $ 2.2320. These brands are crucial because they represent potential areas in which the course could find support. If the prices fall below these levels, this could lead to increased sales pressure.For the bulls, it is essential to achieve a clear movement over the 100-hour SMA in order to break through the current declining momentum. Without a strong purchase interest, it will be difficult to turn the market mood and create a positive market environment.
Overall, the current market situation shows that traders and investors have to remain vigilant in order to be able to appreciate the next steps in retail.